Open Text Corporation (NASDAQ:OTEX) (TSE:OTC) posted its quarterly earnings results on Thursday. The software maker reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.07, Morningstar.com reports. Open Text Corporation had a net margin of 44.77% and a return on equity of 9.08%. The company had revenue of $663.60 million during the quarter, compared to the consensus estimate of $662.36 million. During the same period in the prior year, the company posted $0.45 EPS. Open Text Corporation’s quarterly revenue was up 37.2% on a year-over-year basis.

Open Text Corporation (NASDAQ OTEX) traded up 3.33% during trading on Friday, hitting $34.49. 818,565 shares of the stock traded hands. The company has a market capitalization of $9.06 billion, a P/E ratio of 8.10 and a beta of 0.51. The company’s 50 day moving average is $32.35 and its 200 day moving average is $33.15. Open Text Corporation has a one year low of $29.30 and a one year high of $35.21.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 1st will be issued a dividend of $0.132 per share. This represents a $0.53 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Wednesday, August 30th. Open Text Corporation’s dividend payout ratio is currently 12.74%.

Several equities analysts have weighed in on the stock. Barclays PLC lifted their price objective on shares of Open Text Corporation from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 price objective on shares of Open Text Corporation in a research report on Friday. Scotiabank reiterated an “outperform” rating and set a $50.00 price objective (up from $41.00) on shares of Open Text Corporation in a research report on Friday. BidaskClub upgraded shares of Open Text Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $40.00 price objective on shares of Open Text Corporation in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.11.

A number of large investors have recently bought and sold shares of the company. World Asset Management Inc raised its stake in Open Text Corporation by 0.8% in the second quarter. World Asset Management Inc now owns 15,497 shares of the software maker’s stock valued at $489,000 after buying an additional 125 shares during the period. Comerica Bank raised its stake in shares of Open Text Corporation by 1.5% in the second quarter. Comerica Bank now owns 14,566 shares of the software maker’s stock worth $483,000 after buying an additional 211 shares during the last quarter. US Bancorp DE raised its stake in shares of Open Text Corporation by 6.8% in the second quarter. US Bancorp DE now owns 8,206 shares of the software maker’s stock worth $258,000 after buying an additional 524 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Open Text Corporation by 3.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,200 shares of the software maker’s stock worth $1,001,000 after buying an additional 1,200 shares during the last quarter. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Open Text Corporation by 99.0% in the first quarter. Meadow Creek Investment Management LLC now owns 3,088 shares of the software maker’s stock worth $105,000 after buying an additional 1,536 shares during the last quarter. Institutional investors own 68.49% of the company’s stock.

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Open Text Corporation Company Profile

Open Text Corporation provides a platform and suite of software products and services that assist organizations in finding, utilizing, and sharing business information from any device. The Company designs, develops, markets and sells Enterprise Information Management (EIM) software and solutions. Its EIM offerings include Enterprise Content Management (ECM), Business Process Management (BPM), Customer Experience Management (CEM), Business Network, Discovery and Analytics.

Earnings History for Open Text Corporation (NASDAQ:OTEX)

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